Derek Neilson, head of the Agricultural Segment at CNH, to step down
Basildon, May 30, 2024
CNH Industrial N.V. (NYSE:CNH) announces that it has accepted Derek Neilson's request to leave the Company later this year to pursue a new entrepreneurial project outside of the sector, after 25 years of dedicated service.
During his career with CNH Derek has held a range of leadership positions, making major contributions to manufacturing, the former commercial vehicles division, the EMEA region, also serving for a time as interim CEO. For the past six years he has overseen the transformation of CNH's agricultural business and its accompanying record performance. Derek has developed a strong team that will
continue to place the needs of our agricultural customers at the center of our business as we continue the development of the next generation of digitally enabled products.
Suzanne Heywood, Chair of CNH said, "On behalf of the entire company, I would like to thank Derek for his years of unstinting dedication to CNH. His commitment to the development of outstanding, customer-focused products and his championing of constant improvement have been critical to the success of our continuing transformation. The entire CNH team wishes him every success with his
future plans."
CNH Industrial (NYSE:CNH) is a world-class equipment, technology and services company. Driven by its purpose of Breaking New Ground, which centers on Innovation, Sustainability and Productivity, the Company provides the strategic direction, R&D capabilities, and investments that enable the success of its global and regional Brands. Globally, Case IH and New Holland supply 360
agriculture applications from machines to implements and the digital technologies that enhance them; and CASE and New Holland Construction Equipment deliver a full lineup of construction products that make the industry more productive. The Company's regionally focused Brands include: STEYR, for agricultural tractors; Raven, a leader in digital agriculture, precision technology and the development of autonomous systems; Hemisphere, a leading designer and manufacturer of high-precision satellite-based positioning, and heading technologies; Flexi-Coil, specializing in tillage and seeding systems; Miller, manufacturing application equipment; Kongskilde, providing tillage, seeding and hay & forage implements; and Eurocomach, producing a wide range of mini and midi excavators for the construction sector, including electric solutions.
Across a history spanning over two centuries, CNH has always been a pioneer in its sectors and continues to passionately innovate and drive customer efficiency
and success. As a truly global company, CNH's 40,000+ employees form part of a diverse and inclusive workplace, focused on empowering customers to grow, and build, a better world.
For more information and the latest financial and sustainability reports visit: cnh.com (http://www.cnh.com/)
For news from CNH and its Brands visit: media.cnh.com (https://media.cnh.com/)
Contacts:
Media Relations
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Investor Relations
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economic conditions in each of our markets, including the significant uncertainty caused by geopolitical events; production and supply chain disruptions, including industry capacity constraints, material availability, and
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product warranty and defective product claims, and emissions and/or fuel economy
regulatory and contractual issues; security breaches, cybersecurity attacks, technology failures, and other disruptions to the information technology infrastructure of CNH Industrial and its suppliers and dealers; security breaches with respect to our products; our pension plans and other post- employment obligations; political and civil unrest; volatility and deterioration
of capital and financial markets, including pandemics (such as the COVID-19
pandemic), terrorist attacks in Europe and elsewhere; the remediation of a material weakness; our ability to realize the anticipated benefits from our business initiatives as part of our strategic plan, including targeted restructuring actions to optimize our cost structure and improve the efficiency of our operations; our failure to realize, or a delay in realizing, all of the anticipated benefits of our acquisitions, joint ventures, strategic alliances or
divestitures and other similar risks and uncertainties, and our success in managing the risks involved in the foregoing.
Forward-looking statements are based upon assumptions relating to the factors described in this press release, which are sometimes based upon estimates and data received from third parties. Such estimates and data are often revised. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside CNH's control. CNH expressly disclaims any intention or obligation to provide, update or revise any forward-looking statements in this announcement to reflect any change in expectations or any change in events, conditions or circumstances on which these forward-looking statements are based. Further information concerning
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statements contained herein or referred to above.
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